In What Way Is Consumer Demand Different from Consumer Wants

question 118

Multiple Choice

In what way is consumer demand different from consumer wants?

• A)Demand is only for necessities.
• B)Demand is only for luxuries.
• C)Demand takes into account the ability to pay.
• D)Consumer wants are only for luxuries.
• E)Consumer wants are only for necessities.

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Definitions:

Reasons

Logic or explanations provided to justify or explain a belief, action, or conclusion, differing from the previous mention by focusing on the rationale itself.

Global High-Tech

Refers to industries and companies operating in the advanced technology sector on a worldwide scale.

Critical Thinking

The intellectual discipline of actively and skillfully analyzing, synthesizing, and evaluating information to guide belief or action.

Educated

Having received knowledge or learning through schooling or instruction.